Intraday Technical Outlook 05 April 2021 - Geojit Financial
Gold Mini May/ LBMA Spot Gold
Recovery upticks are in cards as long as $1680 hold the downside. However, a break of $1760 is required to continue major rallies in the counter. Further weakness is seen only a close below $1660. MCX GoldM Apr Res: 46150 Support: 44100.
Silver Mini Apr/ LBMA Spot Silver
A direct rise above $25.20 likely to continue rallies towards $26.50 or more. Else, expect a choppy with mild negative bias trading for the day. Major weakness is seen only a break of $23.80. MCX Silver Apr: Res at Rs 66250. Sup: 62220.
Copper Apr
If 657 remain hold the downside, expect recovery momentum for the day. A direct drop below 655 is a weak signal.
Nickel Apr
Rallies likely to continue while prices stay above 1205. Further weakness is seen only a break of 1180.
Lead Apr
Prices continue with positive bias as long as 162 hold the downside. Another round of selling pressure is seen only a break of 159.
Zinc Apr
Prices required to break 222 to continue buying momentum. Else, there are chance of corrective selling pressure for the day
Aluminium Apr
Prices continue to stay firm as long as it hold the support of 176. Weakness is seen only a break of 173.
MCX Crude Oil Apr/NYMEX Crude Apr
Prices continue to be choppy inside $62-57.50 levels initially and breaking any of the sides would suggest fresh direction to the commodity. MCX Apr: Res at Rs 4580 / Support: Rs 4270.
Natural Gas Apr
Inability to move past 185, there are chances of continuation of rallies. Weakness is seen only a break of 177.
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